Factory Index, Construction Spending Fall

Transport Topics, September, 2006 by Anonymous

Growth in U.S. manufacturing eased last month to a pace consistent with the recent cooling in the economy, a survey found.

The Institute for Supply Management's manufacturing index declined to 54.5 from 54.7 in July. A reading higher than 50 signals expansion.

Also, construction spending in July fell by the most since 2001, the Commerce Department reported. The 1.2% drop reflected the biggest decline since January 2002 and followed a 0.4% rise in June.

Consumer confidence improved in the final two weeks of August because of a decline in gasoline prices, a survey from the University of Michigan showed. The 82 reading in the university's index compared with a preliminary reading of 78.7. It was down from 84.7 in July.

- Bloomberg News